By Kate Hanaghan, 5 February 2002 07:23
NEWS The on-going economic slump has forced financial watchers Moody's to downgrade both Toshiba and NEC.
It has cut Toshiba from an A3 rating to Baa1 and added that the company's outlook looks negative. Shrinking profits in the company's PC section have taken a toll on overall group profits.
NEC has also been sliced - from Baa1 to Baa2 - based on the continuing decline of the company's profits and the delayed restructuring of its DRAM unit.
More on Toshiba and NEC, here:
NEC warns of crushing losses
http://www.silicon.com/a50938
Toshiba ends the year on a low
http://www.silicon.com/a50840
Toshiba quits memory market
http://www.silicon.com/a50015
Things not so fab at NEC plant
http://www.silicon.com/a50006
Toshiba starts to panic on laptops
http://www.silicon.com/a49881
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